Question.1143 - Ethics - Relationship of Corporate Governance to Corporate Social Responsibility and eReserve Required Readings re: BP Gulf Oil spill and corporate social responsibility (CSR) Readings.PROMPT:What was key corporate decision point that defines BP's ethical dilemma in this case study? Which ethical frameworks characterizes BP's decision? In your initial Discussion post, be sure to include the following three areas: Explain how the philosophy of Milton Friedman might have played a role in BP management's decisions leading up to the disaster. Explain the role of the ethical framework called "egoism" in the decisions made by BP relating to this disaster. Explain how CSR and theories of sustainability such as triple bottom line could have led BP to make different decisions and avoid the disaster. What would have been the corporate considerations and decision making process?
Answer Below:
BP xxx committed xxxxxx to xxxxxxxxxxx conduct xxxx governance xxxxxxxxxx in xxxxx to xxxxxx safety xxx environmental xxxxxxxxxxxxxx that xxxxxxxx safety xxxxxxxxxx environmental xxxxxxxxx committees xxxx committees xxx a xxxx of xxxxxxx Lin xx amp xxxxxxxx BP's xxxxxxxxxxxxxx efforts xxxx acknowledged xx various xxxxx parties xxxxxxxxx awards xxx environmental xxxxxxxxxxx and xxxxxxxxxx suggesting xxxx on xxx surface xx appeared xx be xxxxxxxxx to xxxx corporate xxxxxxxxxx and xxxxxxxxxxx practices xxxx Despite xxxxxx robust xxxxxxxxxx mechanisms xxxxxxxx documents xxxxxxxxx that xx management xxx aware xx safety xxxxxxxx but xxxxxxxxx operations xxxxxxx adequate xxxxxxxxxxxxxx measures xxx Hi xxx Blumberg xxx financial xxxxxx and xxxxxx to xxxx reputation xxxx significant xxxxxxxxxxxx the xxxxxxxxx long-term xxxxxxx Despite xxxxxx governance xxxxx and xxxxxxxxxx in xxxxx the xxxx highlights xxxx these xxxxxxxxxx did xxx effectively xxxxx corporate xxxxxxxx since xxx company's xxxxxxxxxxx to xxxx excessive xxxxx for xxxxx wins xxxxxxxxxx the xxxxxxxx function xx governance xxxxxxxxxx King xxx case xxxxxxxxxxx the xxxxxxx between xxxxxxxxxx needs xxxxx wins xxxx savings xxx long-term xxxxxxx sustainability xxxxxxxxxx with xxxxxxxxxx rules xxx urgency xx short-term xxxxx often xxxx precedence xxxxxxx to xxxxxxx that xxxxxxxxxxx long-term xxxxxxxxx Lin xx amp xxxxxxxx The xxxxxxxx introduces xxx concept xx institutions xxxxxxx a xxxxxxx role xx aligning xxxxxxxxxx and xxxxxxxxx incentives xxx corporations xxx conflicting xxxxxxxxxxxxx between xxx two xxx be xxxxxxxxx through xxxxxxxxxxxx that xxxxxxx binding xxxxxxx on xxxxxxxxx behavior xxx case xxxxxxxx that xxxxxxxxxxxx should xxxxxxxx engage xx global xxxxxxxxxx efforts xxxxxxxxxxxx to xxx creation xx effective xxxxxxxxxxxxx orders xxxxxx governance xxxxxxxxx involve xxxxxxxxxxxx collaborating xxxx stakeholders xx establish xxxxx that xxxxxxx sustainable xxxxxxxxx and xxxxxxxxxx the xxxxxxxx impacts xx short-term xxxxxxxxxxxxxxx The xxxxxxxxxxx Care xxxxxxxxxx in xxx chemical xxxxxxxx and xxx Business xxxxxx Compliance xxxxxxxxxx BSCI xxx cited xx examples xx corporations xxxxxxxx in xxxxxx governance xxx Hi xxx Blumberg xxxxx initiatives xxx to xxxxxxx industry-wide xxxxxxxxx and xxxxxxx sustainable xxxxxxxxx through xxxxxxxxxxxxxxx The xxxxxxxxx Horizon xxxx highlights xxx importance xx having xxxxxx safety xxx environmental xxxxxxxxx indicating xxxx corporations xxxxxx have xx enlightened xxxxxxxxxxxxx in xxxxxxxxxxxx to xxxxxx governance xxxxxxx The xxxx for xxxxxxxxxxxx to xxxxxxxx participate xx global xxxxxxxxxx processes xxxxxxxx a xxxxxxxxxxx that xxxxxxx beyond xxxxxxxxxx companies' xxxxxxxxx to xxxxxxxx broader xxxxxxxx and xxxxxxxx impacts xxxxxx Friedman's xxxxxxxxxx emphasizing xxxxxxxxxxx value xxxxxxxxxxxx might xxxx influenced xxxx management xxxxxxxxx and xxx pursuit xx quick xxxx and xxxx savings xx seen xx BP's xxxxxxx to xxx safety xxxxxxxx and xxxxxx risks xxxxxx with xxxxxxxxxx emphasis xx profit xxxxxxxxxxxx Clarke xxx ethical xxxxxxxxx of xxxxxx focusing xx self-interest xxxxxx a xxxx in xxxx decisions xxx the xxxxx for xxxxx wins xxx cost xxxxxxxxxx even xx the xxxxxxx of xxxxxx and xxxxxxxxx consequences xxxxxxxx an xxxxxxxx approach xxxx prioritizes xxxxxxxxx gains xxx the xxxxxxxxxxx Clarke xxx and xxxxxxxxxxxxxx theories xxxx the xxxxxx bottom xxxx could xxxx led xx to xxxxxxxxx decisions xxx emphasizing xxxxxx and xxxxxxxxxxxxx responsibility xxxxx frameworks xxxxxxxxx a xxxx balanced xxxxxxxx Prioritizing xxxxxx and xxxxxxxxxxxxx concerns xxxx quick xxxx might xxxx aligned xxxxxx with xxx principles xxxxxxxxxxx avoiding xxx disaster xxxxxxx The xxxxxxxxxxx relationship xxxxxxx short-term xxxxx and xxxxxxxxx sustainability xx highlighted xx BP's xxxxxxx of xxxxx wins xxxxxx to xxx need xxx institutions xxx global xxxxxxxxxx Effective xxxxxxxxxxxx addressing xxx tension xxxxxxx immediate xxxxx and xxxxxxxxx success xxxxx have xxxxxx corporations xxxx BP xx prioritize xxxxxxxxxxx practices xxxx problematic xxxxx wins xxxxxxxxxx Claydon x Two xxxxxx of xxx and xxxxxxxxxxxxxx Issues xx Social xxx Clarke x The xxxxxxx on xxxxxxxxx purpose xxx Lynn xxxxx was xxxxx and xxxxxx Friedman xxx wrong xxxxxxxxxx Economics xxx Law x Convivium xxx Hi x amp xxxxxxxx I xxx relationship xxxxxxx corporate xxxxxxxxxx global xxxxxxxxxx and xxxxxxxxxxx profits xxxxxxx learned xxxx BP xxxxxxxxx Governance xxx international xxxxxxx of xxxxxxxx in xxxxxxx - xxxx R x Deepwater xxxxxxx oil xxxxx disaster xxxx recovery xxx insurance xxxxxxxxxxxx Diane xxxxxxxxxxMore Articles From Business Management
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